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July 29, 2011 / David Bleeker

Apple’s $76B in cash reserves surpasses US government operating balance

New figures from the U.S. Treasury Department indicate that the government has a total operating cash balance of $73.768 billion, less than Apple’s own war chest of $75.876 billion.

As noted by Matt Hartley of the Financial Post, the news comes even as Republican and Democrat lawmakers debate over the federal budget and debt ceiling. The government’s $73 billion number actually represents the “financial headroom” that lawmakers have before reaching an arbitrary debt ceiling, according to the report. [read more]

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